|
|
|
MIRA
INFORM REPORT
|
Report No. : |
497429 |
|
Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SINKITPHAIBOON LOHAKARN CO., LTD. |
|
|
|
|
Registered Office : |
26/11 Nanglinchee Road, Thungmahamek, Sathorn, Bangkok 10120 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
22.12.1977 |
|
|
|
|
Com. Reg. No.: |
0105520018935 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
The subject
is engaged in
importing and distributing various
kinds of steels
and other products
for construction industry.
Its product are
as follows: ·
Steel Bars [Round
Bars/ Deformed Bars] ·
Structure Steel [H-Beams/ I-Beams/ W-Flange Beams/ Equal Angle
Steel/ C Lipped Channels/ Channels/ Steel Pipes
[black/ square/ flat],
Steel Plates [black/ checker] ·
Others [Nails/ Steel Wire
No. 18/ Billets/ Steel Scrap] |
|
|
|
|
No. of Employees : |
40 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Thailand |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
THAILAND - ECONOMIC
OVERVIEW
With a relatively well-developed infrastructure, a free-enterprise economy, and generally pro-investment policies, Thailand is highly dependent on international trade, with exports accounting for about two-thirds of GDP. Thailand’s exports include electronics, agricultural commodities, automobiles and parts, and processed foods. The industry and service sectors produce about 90% of GDP. The agricultural sector, comprised mostly of small-scale farms, contributes only 10% of GDP but employs about one-third of the labor force. Thailand has attracted an estimated 3.0-4.5 million migrant workers, mostly from neighboring countries.
Over the last few decades, Thailand has reduced poverty substantially. In 2013, the Thai Government implemented a nationwide 300 baht (roughly $10) per day minimum wage policy and deployed new tax reforms designed to lower rates on middle-income earners.
Thailand’s economy is recovering from slow growth during the years since the 2014 coup. Thailand’s economic fundamentals are sound, with low inflation, low unemployment, and reasonable public and external debt levels. Tourism and government spending - mostly on infrastructure and short-term stimulus measures – have helped to boost the economy, and The Bank of Thailand has been supportive, with several interest rate reductions.
Over the longer-term, household debt levels, political uncertainty, and an aging population pose risks to growth.
|
Source
: CIA |
Company name
SINKITPHAIBOON LOHAKARN
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 26/11
NANGLINCHEE ROAD, THUNGMAHAMEK,
SATHORN, BANGKOK
10120, THAILAND
TELEPHONE
: [66] 2678-3988
FAX :
[66] 2678-3989
E-MAIL ADDRESS : sales@sinkit.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1977
REGISTRATION NO. : 0105520018935
TAX ID NO. : 3101108828
CAPITAL REGISTERED : BHT.
50,000,000
CAPITAL PAID-UP
: BHT.
50,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE
: MR. SINCHAI NGAMWONGMAS,
THAI
MANAGING DIRECTOR
NO. OF
STAFF : 40
LINES OF
BUSINESS : CONSTRUCTION STEELS
AND OTHER PRODUCTS
IMPORTER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The subject
was established on December
22, 1977 as a private
limited company under
the registered name
SINKITPHAIBOON LOHAKARN CO., LTD.,
by Thai group, with
the business objective
to import and
distribute various kinds
of steels and
other products for
construction industry. It
currently employs approximately 40
staff.
The subject’s
registered address is
26/11 Nanglinchee Road,
Thungmahamek, Sathorn, Bangkok
10120, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Sinchai
Ngamwongmas |
|
Thai |
75 |
|
Mrs. Suwimon
Ngamwongmas |
|
Thai |
60 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Sinchai
Ngamwongmas is the
Managing Director.
He is Thai
nationality with the
age of 75
years old.
Mrs. Suwimon
Ngamwongmas is the
Deputy Managing Director.
She is Thai
nationality with the
age of 60 years old.
Mr. Boonyarit
Ngamwongmas is the
Sales & Marketing Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
importing and distributing
various kinds of
steels and other
products for construction
industry. Its product
are as follows:
·
Steel Bars [Round
Bars/ Deformed Bars]
·
Structure Steel [H-Beams/ I-Beams/ W-Flange Beams/ Equal
Angle Steel/ C Lipped
Channels/ Channels/ Steel
Pipes [black/ square/ flat], Steel
Plates [black/ checker]
·
Others [Nails/ Steel Wire
No. 18/ Billets/ Steel Scrap]
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas in Canada,
Australia, Germany and
Japan.
SALES
100% of the
products is sold
locally to wholesalers,
contractors and end-users.
SUBSIDIARY AND AFFILIATED
COMPANY
The subject is
not found to
have any subsidiary
or affiliated company
here in Thailand.
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject
according to the
past two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
T/T.
BANKING
Bangkok Bank
Public Company Limited
Kasikornabnk Public
Company Limited
EMPLOYMENT
The subject
currently employs approximately
40 staff.
LOCATION DETAILS
The premise
is owned for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Warehouse is
located on 32,000
square meters plot
of land, at
199/9 Moo 3,
Soi Wongphaet, Theparak
Road, T. Bangpleeyai, A. Bangplee,
Samutprakarn 10540.
COMMENT
Despite a
decrease in sales
or service income
in 2016, the subject
obtained an increase
in net profit
comparing to the
previous year, mainly due
to a sharp
decrease in cost
of goods sold
or service which
accelerated high profit
margin and ended
with higher profit.
Generally, the
subject’s business remains
solid and profitable.
FINANCIAL INFORMATION
The capital
was registered at
Bht. 4,000,000 divided into
40,000 shares of
Bht. 100
each with
fully paid.
The capital
was increased later
as follows:
Bht. 15,000,000
on June 4,
1992
Bht. 30,000,000
on June 26,
2000
Bht. 50,000,000
on December 30,
2013
The latest
registered capital was
increased to Bht. 50,000,000 divided
into 500,000
shares of
Bht. 100 each with fully paid.
THE SHAREHOLDERS
LISTED WERE : [as at
August 15, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Sinchai
Ngamwongmas Nationality: Thai Address : 88
Nanglinchee Road, Thungmahamek,
Sathorn, Bangkok |
250,000 |
50.00 |
|
Mrs. Suwimon
Ngamwongmas Nationality: Thai Address : 36/34
Trok Nokkhet, Rama
3 Road,
Chongnonsi, Yannawa, Bangkok
|
100,000 |
20.00 |
|
Ms. Prempree
Ngamwongmas Nationality: Thai Address : 36/34
Trok Nokkhet, Rama
3 Road,
Chongnonsi, Yannawa, Bangkok
|
50,000 |
10.00 |
|
Mr. Boonyarit
Ngamwongmas Nationality: Thai Address : 36/34
Trok Nokkhet, Rama
3 Road,
Chongnonsi, Yannawa, Bangkok
|
50,000 |
10.00 |
|
Ms. Piyanat Ngamwongmas Nationality: Thai Address : 36/34
Trok Nokkhet, Rama
3 Road,
Chongnonsi, Yannawa, Bangkok
|
50,000 |
10.00 |
Total
Shareholders : 5
Share Structure
[as at August
15, 2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
5 |
500,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Venita
Arkhet No. 8001
financial
BALANCE SHEET [BAHT]
The latest
financial figures published
for December 31,
2016, 2015 and
2014 were:
ASSETS
|
Current
Assets |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Cash and Cash
Equivalents |
50,200,624.84 |
24,109,622.65 |
5,268,185.00 |
|
Trade Accounts and
Other Receivable |
968,243,299.36 |
923,664,765.65 |
964,620,317.28 |
|
Inventories
|
306,739,423.51 |
154,731,972.92 |
360,644,452.80 |
|
Other Current Assets |
15,918,218.61 |
64,657,314.47 |
64,120,157.72 |
|
Total Current Assets |
1,341,101,566.32 |
1,167,163,675.69 |
1,394,653,112.80 |
|
|
|
|
|
|
Available-for-sale
Investment |
189,298.08 |
173,803.16 |
- |
|
Other Long-term Investment |
71,019,057.51 |
62,686,235.33 |
62,135,466.51 |
|
Property, Plant and
Equipment |
185,207,832.56 |
160,081,791.09 |
165,864,226.05 |
|
Intangible Assets |
9,609.59 |
12,369.79 |
15,129.99 |
|
Other
Non-current Assets |
475,779.70 |
308,659.72 |
308,659.72 |
|
Total Assets |
1,598,003,143.76 |
1,390,426,534.78 |
1,622,976,595.07 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft and Short-term Loan From Financial
Institutions |
705,000,000.00 |
566,360,026.37 |
737,443,156.51 |
|
Trade Accounts and
Other Payable |
558,763,448.54 |
568,299,599.69 |
641,638,103.28 |
|
Current Portion of Long-term Liabilities |
4,538,761.97 |
1,656,310.21 |
1,585,924.33 |
|
Accrued Income Tax |
13,720,763.02 |
2,585,813.94 |
733,063.89 |
|
Total Current Liabilities |
1,282,022,973.53 |
1,138,901,750.21 |
1,381,400,248.01 |
|
|
|
|
|
|
Long-term Loan |
- |
- |
4,356,399.01 |
|
Other Non-current
Liabilities |
5,232,316.10 |
2,700,089.00 |
326,364.40 |
|
Total Liabilities |
1,287,255,289.63 |
1,141,601,839.21 |
1,386,083,011.42 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital :
Baht 100 par
value authorized, and
issued share capital
500,000 shares
|
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
Capital Paid |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
Retained Earning -Unappropriated [Deficit] |
260,747,854.13 |
198,824,695.57 |
186,893,583.65 |
|
Total Shareholders’
Equity |
310,747,854.13 |
248,824,695.57 |
236,893,583.65 |
|
Total
Liabilities and Shareholders’ Equity |
1,598,003,143.76 |
1,390,426,534.78 |
1,622,976,595.07 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services
Income |
2,713,857,631.84 |
3,208,155,514.84 |
3,517,924,207.83 |
|
Other Income |
1,680,593.68 |
6,978,930.69 |
8,939,292.54 |
|
Total Revenues |
2,715,538,225.52 |
3,215,134,445.53 |
3,526,863,500.37 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
2,521,150,231.51 |
3,079,988,462.72 |
3,398,695,683.75 |
|
Selling Expenses |
42,755,962.28 |
47,020,348.44 |
47,457,253.62 |
|
Administrative
Expenses |
53,464,025.06 |
47,012,769.72 |
42,418,315.19 |
|
Total Expenses |
2,617,370,218.85 |
3,174,021,580.88 |
3,488,571,252.56 |
|
|
|
|
|
|
Profit /[Loss] before
Financial Cost and Income Tax |
98,168,006.67 |
41,112,864.65 |
38,292,247.81 |
|
Financial Cost |
[19,881,259.36] |
[25,350,380.73] |
[31,650,573.56] |
|
|
|
|
|
|
Profit /[Loss]
before Income Tax |
78,286,747.31 |
15,762,483.92 |
6,641,674.25 |
|
Income Tax |
[16,363,588.75] |
[3,831,372.00] |
[1,876,410.85] |
|
Net Profit / [Loss] |
61,923,158.56 |
11,931,111.92 |
4,765,263.40 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY
RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.05 |
1.02 |
1.01 |
|
QUICK RATIO |
TIMES |
0.79 |
0.83 |
0.70 |
|
|
|
|
|
|
|
ACTIVITY
RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
14.65 |
20.04 |
21.21 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.70 |
2.31 |
2.17 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
44.41 |
18.34 |
38.73 |
|
INVENTORY TURNOVER |
TIMES |
8.22 |
19.91 |
9.42 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
130.22 |
105.09 |
100.08 |
|
RECEIVABLES TURNOVER |
TIMES |
2.80 |
3.47 |
3.65 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
80.90 |
67.35 |
68.91 |
|
CASH CONVERSION CYCLE |
DAYS |
93.74 |
56.08 |
69.91 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
92.90 |
96.00 |
96.61 |
|
SELLING & ADMINISTRATION |
% |
3.55 |
2.93 |
2.55 |
|
INTEREST |
% |
0.73 |
0.79 |
0.90 |
|
GROSS PROFIT MARGIN |
% |
7.16 |
4.21 |
3.64 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.62 |
1.28 |
1.09 |
|
NET PROFIT MARGIN |
% |
2.28 |
0.37 |
0.14 |
|
RETURN ON EQUITY |
% |
19.93 |
4.79 |
2.01 |
|
RETURN ON ASSET |
% |
3.88 |
0.86 |
0.29 |
|
EARNING PER SHARE |
BAHT |
123.85 |
23.86 |
9.53 |
|
|
|
|
|
|
|
LEVERAGE
RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.81 |
0.82 |
0.85 |
|
DEBT TO EQUITY RATIO |
TIMES |
4.14 |
4.59 |
5.85 |
|
TIME INTEREST EARNED |
TIMES |
4.94 |
1.62 |
1.21 |
|
|
|
|
|
|
|
ANNUAL
GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(15.41) |
(8.81) |
|
|
OPERATING PROFIT |
% |
138.78 |
7.37 |
|
|
NET PROFIT |
% |
419.01 |
150.38 |
|
|
FIXED ASSETS |
% |
15.70 |
(3.49) |
|
|
TOTAL ASSETS |
% |
14.93 |
(14.33) |
|
ANNUAL
GROWTH : IMPRESSIVE
An annual sales growth is -15.41%. Turnover has decreased
from THB
PROFITABILITY
: EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
7.16 |
Impressive |
Industrial
Average |
- |
|
Net Profit Margin |
2.28 |
Impressive |
Industrial
Average |
0.56 |
|
Return on Assets |
3.88 |
Impressive |
Industrial
Average |
1.21 |
|
Return on Equity |
19.93 |
Impressive |
Industrial
Average |
4.84 |
Gross Profit Margin used to assess a firm's financial health
by revealing the proportion of money left over from revenues after accounting
for the cost of goods sold. Gross profit margin serves as the source for paying
additional expenses and future savings. Gross Profit Margin is 7.16%. When
compared with the industry average, the ratio of the company was higher,
indicated that company was more profitable than the same industry.
Net Profit Margin is the indicator of the company's
efficiency in that net profit takes into consideration all expenses of the
company. A low profit margin indicates a low margin of safety, higher risk that
a decline in sales will erase profits and result in a net loss. Net Profit
Margin ratio is 2.28%, higher figure when compared with those of its average competitors
in the same industry, indicated that business was an efficient operator in a dominant position within its industry.
Return on Assets measures how efficiently profits are being
generated from the assets employed in the business when compared with the
ratios of firms in a similar business. A low ratio in comparison with industry
averages indicates an inefficient use of business assets. Return on Assets
ratio is 3.88%, higher figure when compared with those of its average
competitors in the same industry, indicated that business was an efficient
profit in a dominant position within its industry.
Return on Equity indicates how profitable a company is by
comparing its net income to its average shareholders' equity, ROE measures how
much the shareholders earned for their investment in the company. Return on
Equity ratio is 19.93%, higher figure when compared with those of its average
competitors in the same industry, indicated that business was an efficient
profit in a dominant position within its industry.
Trend
of the average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY
: ACCEPTABLE
LIQUIDITY
RATIO
|
Current Ratio |
1.05 |
Impressive |
Industrial
Average |
0.90 |
|
Quick Ratio |
0.79 |
|
|
|
|
Cash Conversion Cycle |
93.74 |
|
|
|
The Current Ratio is to ascertain whether a company's
short-term assets are readily available to pay off its short-term liabilities.
The company's figure is 1.05 times in 2016, increase from 1.02 times, then it
is generally considered to have good short-term financial strength. When
compared with the industry average, the ratio of the company was higher,
indicated that company was an efficient operator in a dominant position within
its industry.
The Quick Ratio is a liquidity indicator that further
refines the current ratio by measuring the amount of the most liquid current
assets there are to cover current liabilities. The company's figure is 0.79
times in 2016, decrease from 0.83 times, then the company has not enough current
assets that presumably can be quickly converted to cash for pay financial
obligations.
The Cash Conversion Cycle measures the number of days a
company's cash is tied up in the production and sales process of its operations
and the benefit from payment terms from its creditors. It meant the company
could survive when no cash inflow was received from sale for 94 days.
Trend
of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE
: ACCEPTABLE
LEVERAGE
RATIO
|
Debt Ratio |
0.81 |
Acceptable |
Industrial
Average |
0.77 |
|
Debt to Equity Ratio |
4.14 |
Risky |
Industrial
Average |
3.43 |
|
Times Interest Earned |
4.94 |
Impressive |
Industrial
Average |
- |
Debt to Equity Ratio a measurement of how much suppliers,
lenders, creditors and obligors have committed to the company versus what the
shareholders have committed. A higher the percentage means that the company is
using less equity and has stronger leverage position.
Times Interest Earned measuring a company's ability to meet
its debt obligations. Ratio is 4.94 higher than 1, so the company can pay
interest expenses on outstanding debt.
Debt Ratio shows the proportion of a company's assets which
are financed through debt. The company's figure is 0.81 greater than 0.5, most
of the company's assets are financed through debt.
Trend
of the average competitors in the same industry for last 5 years
Debt Ratio Uptrend
Times Interest Earned Stable
ACTIVITY
: IMPRESSIVE
ACTIVITY
RATIO
|
Fixed Assets Turnover |
14.65 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.70 |
Satisfactory |
Industrial
Average |
2.15 |
|
Inventory Conversion Period |
44.41 |
|
|
|
|
Inventory Turnover |
8.22 |
Impressive |
Industrial
Average |
6.17 |
|
Receivables Conversion Period |
130.22 |
|
|
|
|
Receivables Turnover |
2.80 |
Acceptable |
Industrial
Average |
6.44 |
|
Payables Conversion Period |
80.90 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.80
and
Inventory Turnover in Days Ratio indicates the liquidity of
inventory. It estimates the number of days that it will take to sell the
current inventory. Inventory is particularly sensitive to change in business
activities. The inventory turnover in days has increased from 18 days at the
end of 2015 to 44 days at the end of 2016. This represents a negative trend.
And Inventory turnover has decreased from 19.91 times in year 2015 to 8.22
times in year 2016.
The company's Total Asset Turnover is calculated as 1.7
times and 2.31 times in 2016 and 2015 respectively. This ratio is determined by
dividing total assets into total sales turnover. The ratio measures the
activity of the assets and the ability of the firm to generate sales through
the use of the assets.
Trend
of the average competitors in the same industry for last 5 years
Fixed Assets Turnover Stable
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.87 |
|
|
1 |
INR 90.49 |
|
Euro |
1 |
INR 79.91 |
|
THB |
1 |
INR 2.09 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.